Dunhuang Seed announces major shareholding change

Dunhuang City Supply and Marketing Cooperative, a shareholder holding 5.6022% of Gansu Dunhuang Seed, has agreed to transfer 26,500,000 shares, representing 5.0208% of the company's total share capital, to Dunhuang City Shazhou Energy Development Co., Ltd. for ¥170,660,000.00. This will reduce the Cooperative's stake to 0.5814%, making it no longer a major shareholder.

The transfer will decrease the total voting rights held by Jiuquan Iron & Steel (Group) Co., Ltd. (JISCO) through proxy. Before the transfer, JISCO directly held 11.03% and controlled an additional 9.81% via proxy, totaling 20.84%. After the transfer, JISCO's total voting rights will decrease to 15.82%, comprising its direct 11.03% holding and 4.79% via proxy. The controlling shareholder and actual controller of Gansu Dunhuang Seed, JISCO and Gansu Provincial State-owned Assets Supervision and Administration Commission respectively, will remain unchanged.

In a related development, Shazhou Energy has signed a voting rights entrustment intention agreement with JISCO. Upon completion of the share acquisition, Shazhou Energy intends to entrust its voting rights to JISCO. This ensures that a significant portion of voting power remains consolidated under JISCO's influence, aligning with the company's operational stability.